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62 Equifax 2012 Annual Report
Obligations and Funded Status. A reconciliation of the projected benefit obligations, plan assets and funded status of the plans is as follows:
Pension Benefits Other Benefits
(In millions) 2012 2011 2012 2011
Change in projected benefit obligation
Benefit obligation at January 1, $ 746.1 $ 678.0 $29.9 $ 33.6
Service cost 6.5 6.4 0.5 0.6
Interest cost 33.4 34.5 1.2 1.6
Plan participants’ contributions ——1.1 1.1
Amendments 7.5 ———
Actuarial loss (gain) 68.7 70.0 (1.7) (3.0)
Foreign currency exchange rate changes 1.8 (1.2) ——
Curtailments (29.2) ———
Settlements (77.3) ———
Benefits paid (40.7) (41.6) (3.7) (4.0)
Projected benefit obligation at December 31, 716.8 746.1 27.3 29.9
Change in plan assets
Fair value of plan assets at January 1, 583.0 569.9 19.3 18.9
Actual return on plan assets 59.0 9.2 2.1 0.4
Employer contributions 7.6 46.6 2.6 2.9
Plan participants’ contributions ——1.1 1.1
Foreign currency exchange rate changes 1.7 (1.1) ——
Settlements (62.6) ———
Benefits paid (40.7) (41.6) (3.7) (4.0)
Fair value of plan assets at December 31, 548.0 583.0 21.4 19.3
Funded status of plan $(168.8) $(163.1) $ (5.9) $(10.6)
The accumulated benefit obligation for the USRIP, CRIP and
Supplemental Retirement Plans was $697.5 million at December 31,
2012. The accumulated benefit obligation for the USRIP, CRIP and
Supplemental Retirement Plans was $710.3 million at December 31,
2011.
At December 31, 2012, the USRIP and Supplemental Retirement
Plans had projected benefit obligations and accumulated benefit
obligations in excess of those plans’ respective assets. The projected
benefit obligation, accumulated benefit obligation and fair value of
plan assets for these plans in the aggregate were $650.5 million,
$642.2 million and $494.1 million, respectively, at December 31,
2012. The projected benefit obligation, accumulated benefit obliga-
tion and fair value of plan assets for the CRIP were $66.3 million,
$55.3 million and $53.9 million, respectively, at December 31, 2012.
At December 31, 2011, the USRIP and Supplemental Retirement
Plans had projected benefit obligations and accumulated benefit
obligations in excess of those plans’ respective assets. The projected
benefit obligation, accumulated benefit obligation and fair value of
plan assets for these plans in the aggregate were $697.4 million,
$669.1 million and $535.8 million, respectively, at December 31,
2011. The CRIP plan assets exceeded the accumulated benefit
obligation at December 31, 2011. The projected benefit obligation,
accumulated benefit obligation and fair value of plan assets for the
CRIP were $48.7 million, $41.2 million and $47.2 million, respectively,
at December 31, 2011.
The following table represents the net amounts recognized, or the funded status of our pension and other postretirement benefit plans, in our
Consolidated Balance Sheets at December 31, 2012 and 2011:
Pension Benefits Other Benefits
(In millions) 2012 2011 2012 2011
Amounts recognized in the statements of financial position consist of:
Current liabilities $ (3.7) $ (3.8) $— $—
Long-term liabilities (165.1) (159.3) (5.9) (10.6)
Net amount recognized $(168.8) $(163.1) $(5.9) $(10.6)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued